Vesting Title in an Entity

What Entities can you vest title in? We will vest in all types of trusts, LLC’s, partnerships & corps.

Who signs? Depends on what entity but as a general rule, a 10% member/owner, etc.

Who is the Borrower? While title may be vested in an entity, the borrower must be a natural person who completes the loan application and whose social security number, employment, assets and credit are used to qualify for the loan. The borrower is personally responsible for the indebtedness.

Who is the Mortgagor? The entity with vested title in the property is the mortgagor. The mortgagor will sign the Mortgage/Deed of Trust and any related Riders, and will be required to sign an Accommodation Rider.

This type of loan works vrey well for actors and athletes and high profile borrowers who want to keep their names hidden from the public tax records.

RATE ALERT

REVERSE MORTGAGES

Retirement should bring financial peace of mind, but all too often retirees find themselves running low on essential funds due to medical bills, credit card debt, or other expenses. Retirees often put themselves under undue financial stress to meet these obligations without … Read More...

SEARCH SAN DIEGO HOMES FOR SALE

Search Real-Time, up to the minute, San Diego County Homes for Sale directly from the MLS (Sandicor) by just clicking the … Click Here to Search...